Edgestream Partners L.P. Grows Stake in Fulton Financial Co. (NASDAQ:FULT)

Edgestream Partners L.P. boosted its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 203.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252,900 shares of the bank's stock after purchasing an additional 169,684 shares during the quarter. Edgestream Partners L.P. owned approximately 0.14% of Fulton Financial worth $4,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Family Firm Inc. purchased a new stake in shares of Fulton Financial in the second quarter worth about $46,000. Coston McIsaac & Partners purchased a new position in shares of Fulton Financial during the 3rd quarter valued at $54,000. Blue Trust Inc. increased its holdings in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock worth $61,000 after purchasing an additional 691 shares during the period. AE Wealth Management LLC purchased a new stake in shares of Fulton Financial in the second quarter worth $172,000. Finally, Atwater Malick LLC bought a new stake in Fulton Financial during the second quarter valued at $175,000. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Trading Down 0.4 %

Shares of FULT traded down $0.08 during mid-day trading on Friday, reaching $21.58. The company's stock had a trading volume of 431,225 shares, compared to its average volume of 1,427,032. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49. The stock has a market cap of $3.93 billion, a PE ratio of 13.66 and a beta of 0.73. The company's fifty day moving average price is $19.06 and its two-hundred day moving average price is $18.13. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, analysts predict that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.15%. Fulton Financial's payout ratio is 43.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research report on Thursday, October 17th. StockNews.com downgraded shares of Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus price target of $18.83.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.